Casa Systems Inc (NASDAQ:CASA) Given Average Recommendation of “Hold” by Analysts

Shares of Casa Systems Inc (NASDAQ:CASA) have received a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $5.33.

CASA has been the topic of a number of research reports. Morgan Stanley raised their price objective on shares of Casa Systems from $2.70 to $4.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Northland Securities assumed coverage on shares of Casa Systems in a report on Thursday, June 11th. They set a “buy” rating and a $7.00 price target on the stock. JPMorgan Chase & Co. assumed coverage on shares of Casa Systems in a report on Tuesday, April 14th. They set an “underweight” rating on the stock. BidaskClub downgraded shares of Casa Systems from a “buy” rating to a “hold” rating in a report on Wednesday, May 6th. Finally, Barclays reaffirmed a “hold” rating and set a $5.00 price target on shares of Casa Systems in a report on Sunday, May 3rd.

Hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in shares of Casa Systems by 14.2% in the first quarter. Bank of New York Mellon Corp now owns 119,383 shares of the company’s stock worth $418,000 after buying an additional 14,835 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of Casa Systems by 502.0% in the first quarter. Citigroup Inc. now owns 38,794 shares of the company’s stock worth $136,000 after buying an additional 32,350 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Casa Systems by 40.9% in the first quarter. Alliancebernstein L.P. now owns 4,837,539 shares of the company’s stock worth $16,931,000 after buying an additional 1,404,069 shares in the last quarter. State Street Corp lifted its holdings in shares of Casa Systems by 3.3% in the first quarter. State Street Corp now owns 690,088 shares of the company’s stock worth $2,415,000 after buying an additional 22,091 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of Casa Systems by 43.5% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 386,084 shares of the company’s stock worth $1,579,000 after buying an additional 117,064 shares in the last quarter. 70.19% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CASA traded up $0.02 on Friday, reaching $4.29. The company’s stock had a trading volume of 135,299 shares, compared to its average volume of 289,306. The company has a debt-to-equity ratio of 7.30, a current ratio of 4.04 and a quick ratio of 2.90. The stock has a market capitalization of $356.24 million, a P/E ratio of -11.00 and a beta of 0.98. The stock’s 50 day simple moving average is $4.30 and its two-hundred day simple moving average is $3.95. Casa Systems has a 12-month low of $1.85 and a 12-month high of $8.03.

Casa Systems (NASDAQ:CASA) last posted its quarterly earnings data on Thursday, April 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). The business had revenue of $83.62 million during the quarter, compared to analysts’ expectations of $70.95 million. Casa Systems had a positive return on equity of 3.56% and a negative net margin of 9.60%. Analysts expect that Casa Systems will post -0.1 earnings per share for the current year.

About Casa Systems

Casa Systems, Inc provides software-centric broadband products in North America, Latin America, the Asia-Pacific, Europe, the Middle East, and Africa. The company offers solutions that allow cable service providers to deliver voice, video, and data services over a single platform at multi-gigabit speeds.

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Analyst Recommendations for Casa Systems (NASDAQ:CASA)

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